https://www.taxtmi.com/caselaws?id=359493 The Tribunal upheld the CIT(A)'s deletions of disallowances and additions made by the AO. The Tribunal emphasized that the AO must record dissatisfaction before invoking Rule 8D for disallowance under Section 14A. It supported the allowance of CSR expenses under Section 37(1) as business expenditure. Additionally, it ruled that excise duty should be excluded from closing stock valuation under Section 145A. The Tribunal also approved the deletion of expenses under Section 37(1) related to sales-tax written off. The decision was based on legal precedents and lack of substantiation by the AO, with the order issued on April 27, 2018. en-us Fri, 27 Apr 2018 00:00:00 +0530 Tue, 01 May 2018 06:24:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359493 The Tribunal upheld the CIT(A)'s deletions of disallowances and additions made by the AO. The Tribunal emphasized that the AO must record dissatisfaction before invoking Rule 8D for disallowance under Section 14A. It supported the allowance of CSR expenses under Section 37(1) as business expenditure. Additionally, it ruled that excise duty should be excluded from closing stock valuation under Section 145A. The Tribunal also approved the deletion of expenses under Section 37(1) related to sales-tax written off. The decision was based on legal precedents and lack of substantiation by the AO, with the order issued on April 27, 2018. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359493